Abbrea Capital LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Abbrea Capital LLC boosted its holdings in Deere & Company (NYSE:DE) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,288 shares of the industrial products company’s stock after purchasing an additional 35 shares during the period. Abbrea Capital LLC’s holdings in Deere & Company were worth $517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Morgan Stanley lifted its position in shares of Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the last quarter. FMR LLC boosted its stake in Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares during the period. Northern Trust Corp lifted its holdings in shares of Deere & Company by 2.5% in the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after buying an additional 73,601 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Deere & Company by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after acquiring an additional 33,946 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd increased its holdings in Deere & Company by 1.1% during the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,146,220 shares of the industrial products company’s stock worth $432,561,000 after acquiring an additional 12,825 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.1 %

DE stock traded down $0.56 during trading on Thursday, reaching $394.06. The company had a trading volume of 1,272,240 shares, compared to its average volume of 1,478,239. The business has a 50 day moving average of $386.62 and a 200 day moving average of $383.47. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The company has a market cap of $109.69 billion, a P/E ratio of 11.29, a PEG ratio of 1.49 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.55 EPS. As a group, sell-side analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DE shares. Morgan Stanley initiated coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Wells Fargo & Company dropped their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $433.28.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.